Union federation arm criticizes compensation packages given to CEO, former group president

CtW Investment Group, an arm of the union federation Change to Win, said it would urge shareholders of Caterpillar Inc. to reject the equipment maker’s executive compensation policies in an advisory vote at the annual shareholders meeting June 10.

In a letter released on Monday, CtW criticized a sharp increase in the 2014 bonus paid to Caterpillar Chief Executive Doug Oberhelman and what it termed an “overly generous” retirement...